Designed to work natively with real world internet data
Selendra is designed upon a philosophy of openness and connectivity, acting as a gateway to other blockchain networks, resulting in an extended range of new business use-cases.
The Selendra community benefits through receiving access to a broad range of services available within a single user-friendly development environment that is compatible with Ethereum, Polkadot, Cosmos, other blockchain networks, and non-native network nodes.
SEL is the native token, unit of account, and fuel to operate on Selendra Blockchain system. While Selendra as the system will bridge to the outside blockchains, allows it users to liquidate and transact with anyone that interacts on the Internet.
As with all software, to remain timely, useful and relevant, blockchain software requires upgrades for continued development. Early generation blockchain upgrades required forking, a process requiring weeks, if not months to deploy.
Upgrades through the forking process can become controversial, sometimes leading to a hard fork, which in essence splits the development community in two. Selendra employs forkless upgrades enacted through an on-chain governance system, thereby creating enhanced stability through avoiding the forked upgrade process altogether.
Selendra has four distinct roles for reaching consensus:
Validators secure the network through the process of staking, validating proofs from collators, and through participating in consensus with other validators.
Collators maintain data shards by collecting shard transactions and producing proofs for validators. They also monitor the network and report abuse to validators.
Nominators secure the network by selecting trustworthy validators and stakers.
Fishermen monitor the network and report abuse to validators.
Selendra uses a governance mechanism of two distinct committee types that ensure the majority of stakeholders will always secure the network.SEL Holders committees are elected to represent passive stakeholders in two primary governance roles, which are proposing referenda, and vetoing dangerous or malicious referenda.
Technical committees are composed of active Selendra developers who propose emergency referenda and new features together with the Holders Council for fast-tracked voting and implementation.
Selendra incentivizes decentralization to maximize chain security through two primary role mechanisms, that of validators and nominators.
Validators with greater stakes tend to have more resources for maintaining infrastructure, therefore, validator rewards are paid the same regardless of stake level. Generally, validators with lesser stake levels will pay more to nominators, whereby nominators have an economic incentive to shift toward lower stake validators, resulting in more evenly distributed stakes across validators and avoiding concentrations of power.
Transaction fees are among the greatest barriers hindering mainstream adoption. Selendra’s approach to this issue is to make transaction fees fixed and very low from the start. Selendra transaction fees are fixed at 0.00001 SEL per transaction. Since the cost per transaction is fixed to the SEL token, the cost per transaction will only vary relative to the SEL token price.
Network governance bodies such as validators, norminator, collators and fishermen are rewarded through the staking process, with 30% of transaction fees being paid as rebates, while the remaining 70% are taken out of existence.
As Selendra transaction fees are inherently low, the possibility of attack on computing resources is a possibility. To mitigate this issue, prior to performing any transaction, Selendra account holders must maintain a minimum balance of 0.10 SEL (this minimum balance amount will be adjusted accordingly as the network develops).
A minimum balance deposit is used to deter network attacks, where the deposit is forfeited upon detection of network abuse. Forfeited deposits are added to the reward pool fund for future payments to validators and other network participants.
a hotspot mesh network with local contents cached that provides internet access to villagers, one village at a time. Mesh networks offer options for local internet that help bring down the cost of data. Incentives users to browse useful contents or relative ads, while internet fees are paid via KHR, USD or SEL.
a virtual school that incentivized teachers to create good quality video contents and students to fairly rate the cause they learned. Anyone can open a school, similar to a personal Facebook page, but focus on video education. SALA KOOMPI believes that anyone has some good to share and enlighten the world, if incentives are fairly and openly distributed.
is a catalyst for a global movement to reforest the rainforest and regenerate our ecosystem through platforms and models that incorporate technology and designs inspired by nature. In the process, we're growing a community of people engaging in social, cultural, ecological and economic regeneration.
a planned virtual marketplace where goods and services can be exchanged through smart contracts in a peer-to-peer network, together with all the other added benefits blockchain technology has to offer. Buyers and sellers are empowered through the community where transactions can be negotiated with confidence.
There are projects related to Digital Student IDs Apps, Loyalty Rewards, Community Lottery and several interesting DApps are being developed by community developers and enterprise partners. We look forward to list them on Selendra web page in the near future.
Innovation and expansion are key factors in the Selendra network. The proposed tokenomic model comes with a strong approach to Decentralized Digital IDs, DeFi and Web 3.0.
36.5% of the SEL token was pre-minted during mainnet launched, though majourity of them are under time-locked vesting from 2 years to 15 years. Plus, the unsold token sale will be burned, thus automatically adding back to staking rewards pools to be rewarded to good actors over the next two decades or more.
Selendra has been under continuous development over the last 4 years. The Selendra team is committed to build regardless of market conditions. Here at Selendra, we all have a common goal. Building the Next Generation of Decentralized System. Created by the people for the people.